QUASI-SOVEREIGN BOND - Breaking Records

Jan 19, 2012

Petrobras’s $6bn Three-Tranche Offering

Petrobras’s record-breaking $6 billion
three-tranche deal in January 2011 proved to be the splashiest
of quasi-sovereign trades in 2011 when it became the
largest-ever corporate issuance from a Brazilian company.

Large and multi-faceted trades that come once a year are now
part of the oil company’s strategy in the US
dollar market as it tries to balance its enormous financing
needs while satisfying investor demands in its core market.

"This was an important transaction for Petrobras," says the
company’s CFO Almir Barbassa. "We used the same
strategy in the euro and sterling markets."